Consumption among young people is key to economic growth, according to the Japanese government. Recent surveys have shown that under 34-year old Japanese have cut spending by 11.7 percent year on year.

Japan is not the only country considering implementing the system known as ‘basic income’. Last November the Finnish social insurance institution proposed to allot a tax-free income of €800 per month. In various cities throughout the Netherlands people will receive an extra €1,100.

@Pradip_K_Varma Japan would be a great place to start with basic income. They could do with a bit more freedom to innovate and take risks